Did you know that pet care costs have risen over 70% in the past five years due to advances in veterinary technology?
Thanks to significant advances in veterinary care, our pets can live longer, happier lives than ever before. Unfortunately, the new diagnosis and treatment options often come at a higher price.
Here are a few examples:
- Treating a broken leg can cost: $2,000 – $5,000
- Surgically removing items like rocks or toys can cost: $1,000 – $3,000
- Chronic condition treatment like diabetes or arthritis1: $1,000 – $2,500 per year
So should you purchase pet insurance for your Minnesota dog? Bark Busters Minneapolis, St Paul & the Twin Cities would like to present you with some advantages and disadvantages of purchasing pet insurance so you can make the decision that is right for you and your dog! With many so many policy options and numerous insurance companies offering coverage, the selection process can become a bit daunting.
Advantages of Pet Insurance
One advantage to pet insurance is that a monthly premium ranging from $10 to $60 per month is a sensible way for many people to take care of the costs associated with pet healthcare, particularly those whose pets are older or have chronic or genetic conditions. Plans vary in price based on the age of the pet, the breed, and the specific insurance plan chosen.
Costs are skyrocketing in pet healthcare mainly due to more sophisticated technology and treatment. Pet insurance plans usually offer fixed premiums and deductibles for full or partial coverage and come in handy when an emergency medical crisis occurs.
Some companies are even offering pet insurance as a payroll deduction, just like health care!
Disadvantages of Pet Insurance
Usually preventive care such as vaccinations and flea and tick control are not covered. However, check into pet insurance that has “wellness coverage” which can include check-ups, teeth cleaning, and other pet specific annual routine care.
Unfortunately, the vast majority of veterinary insurance companies do not pay for procedures and other care up-front. The pet owner typically must pay the vet bill up-front, and the money is then reimbursed within a week or two of the claim form submission. But in cases where it’s a matter of life or death, many vets will allow the pet owner to pay just a portion of the bill, allowing the pet parent to make arrangements for the insurance reimbursement check to be sent directly to the clinic, thereby clearing the remainder of the balance.
Owners of a pet with a pre-existing medical condition should be aware that their cat, dog, bird or other pet may not be eligible for coverage. In addition, pets who have previously suffered a medical problem or been involved in an accident may not be eligible for reimbursement on future costs if the future problem is found to be directly related to the original incident (providing that original incident occurred before the insurance policy became effective.)
If your pet is in good health, you may not need to incur the expense of pet-insurance.
One way to help you decide if pet insurance is the right choice for you is to do a cost versus benefit analysis. Take into consideration factors such as age, life expectancy, heredity, pre-existing or chronic conditions, and how much you typically spend on your pet’s health care during a year. Many people find that it’s more cost effective to pay for veterinarian care out of pocket rather than purchasing pet insurance.
If you have any questions for Bark Busters Minnesota dog trainers throughout St. Paul, Minneapolis and the Twin Cities, email us at twincitiesbarkbusters@gmail.com.
